Iran plans to charge a $1 per barrel toll from oil tankers passing through the Strait of Hormuz, with the option to pay in cryptocurrency, according to a report.
The move comes as Iran tightens its grip on the strategic waterway despite a two-week ceasefire with the US.
Iran's Oil, Gas and Petrochemical Products Exporters' Union spokesperson, Hamid Hosseini, said the toll is to ensure the country can monitor what goes in and out of the strait.
Every ship can pass the Strait, but the procedure to do so would take time, with Hosseini noting that Iran 'is not in a rush.'
The development comes as Iran once again closed the Strait of Hormuz in response to Israeli attacks against the Hezbollah militant group in Lebanon.
Iran agreed to temporarily reopen the strait as part of the two-week truce with the US, but has now blocked it again.
Decisions on the conditions for vessels to pass the Strait are made by Iran's Supreme National Security Council.
Empty vessels can pass free of charge, but tankers must email the authorities about their cargo and pay the toll in digital currencies.
Western ship owners are reportedly waiting for a clear understanding of the status of the Strait, with nearly 300 to 400 ships waiting to exit the Gulf.
